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Tory peer calls for £10,000 ‘citizens inheritance’ for all 30-year-olds

65 replies

SerendipityJane · 02/03/2024 09:30

"The next government" I notice.

Not this one.

Are we all ready for the extra tax to pay for this ? Or would we rather scrap PIP and ESA ?

https://www.theguardian.com/politics/2024/mar/02/tory-peer-calls-for-10000-citizens-inheritance-for-all-30-year-olds

Tory peer calls for £10,000 ‘citizens inheritance’ for all 30-year-olds

David Willetts suggests policy would help spread wealth among millennials amid deepening inequalities

https://www.theguardian.com/politics/2024/mar/02/tory-peer-calls-for-10000-citizens-inheritance-for-all-30-year-olds

OP posts:
the80sweregreat · 02/03/2024 09:36

What about those just over 30 ? Don't they count too?

SerendipityJane · 02/03/2024 09:37

the80sweregreat · 02/03/2024 09:36

What about those just over 30 ? Don't they count too?

Who cares ? It's not real you know ....

OP posts:
RainbowZebraWarrior · 02/03/2024 09:38

They shouldn't even be printing this tripe. It's utterly batshit and would never happen anyway.

It's a wind em up and let em go story.

Interested in this thread?

Then you might like threads about this subject:

SerendipityJane · 02/03/2024 09:40

RainbowZebraWarrior · 02/03/2024 09:38

They shouldn't even be printing this tripe. It's utterly batshit and would never happen anyway.

It's a wind em up and let em go story.

A cynic might say it's designed to force a response from Labour that they can't do it when in government.

In fact that's probably going to be the Tory election strategy (as best it can be) - look at all the broken shit Labour won't be able to fix.

OP posts:
the80sweregreat · 02/03/2024 09:43

On a selfish level ds2 is just over 30 and could do with a new car! Or help with the bills / mortgage at least. His g:f and him are just over 30
They would miss out
Agree it's pie in the Sky though

midgetastic · 02/03/2024 09:43

Wouldn't it be better to give 10k to those with the least irrespective of age ?

There are a lot of very wealthy younger people

sleepyscientist · 02/03/2024 09:49

SerendipityJane · 02/03/2024 09:30

"The next government" I notice.

Not this one.

Are we all ready for the extra tax to pay for this ? Or would we rather scrap PIP and ESA ?

https://www.theguardian.com/politics/2024/mar/02/tory-peer-calls-for-10000-citizens-inheritance-for-all-30-year-olds

I'm all for scrapping benefits if it means we can lower tax and focus on the main points (health, education, security).

A lot of adults are buying their 1st home in their 30s so 10k at 30 would really help them. Maybe a 10k citizens deposit or business investment would be better. My only concern would be that offering 10k makes it more appealing to just enjoy your twenties and not save which means they might not get the work experience etc.

SerendipityJane · 02/03/2024 09:51

A lot of adults are buying their 1st home in their 30s so 10k at 30 would really help them.

Not for long, as house prices went up to match ...

OP posts:
K0OLA1D · 02/03/2024 09:51

sleepyscientist · 02/03/2024 09:49

I'm all for scrapping benefits if it means we can lower tax and focus on the main points (health, education, security).

A lot of adults are buying their 1st home in their 30s so 10k at 30 would really help them. Maybe a 10k citizens deposit or business investment would be better. My only concern would be that offering 10k makes it more appealing to just enjoy your twenties and not save which means they might not get the work experience etc.

I'm sorry, you'd scrap PIP??

ArseInTheCoOpWindow · 02/03/2024 09:52

Yep I’d support it.

My ds is 30. They’ve been screwed over by high rents, student loans, house prices and low wages.

l wouldn’t abolish benefits for it either.

the80sweregreat · 02/03/2024 09:52

It would cause more divide and many 30 year olds would just blow it I suppose.
Ds2 needed 30 k for a deposit for a small place out of the area he grew up in and that took him many years to save up for.
Lots of areas have high house prices and 10 k wouldn't go that far

midgetastic · 02/03/2024 09:53

Scrapping benefits ? Really

Although I see that free education and health you don't class as a benefit ?

But help for a disabled person to live ? Is that a benefit you would scrap?

Or would you only scarp benefits paid to people who can't work for ill health or lack of a job ?

Flensburg · 02/03/2024 09:54

sleepyscientist · 02/03/2024 09:49

I'm all for scrapping benefits if it means we can lower tax and focus on the main points (health, education, security).

A lot of adults are buying their 1st home in their 30s so 10k at 30 would really help them. Maybe a 10k citizens deposit or business investment would be better. My only concern would be that offering 10k makes it more appealing to just enjoy your twenties and not save which means they might not get the work experience etc.

So, what would you like to see happen to people like me whose only income is ESA and PIP due to lifelong disability?

SometimesIchangemyname · 02/03/2024 09:56

What a daft idea. Unimplementable. Did I just make that word up?

Probably another attempt to try and keep the housing bubble inflated. I am imaging someone sitting there with the figures on salaries, house prices and birth rates trying to think of something as cheap as possible to keep people in the game .

ArseInTheCoOpWindow · 02/03/2024 09:56

Yeah I’m on full PIP too.

Have to pay for everything like cleaners, taxis to hospital appointments, therapies etc.

Spinet · 02/03/2024 10:04

It wouldn't be my choice of spending but couldn't increasing inheritance tax pay for it? Why are you suggesting cutting benefits to pay for it?

Borka · 02/03/2024 10:08

sleepyscientist · 02/03/2024 09:49

I'm all for scrapping benefits if it means we can lower tax and focus on the main points (health, education, security).

A lot of adults are buying their 1st home in their 30s so 10k at 30 would really help them. Maybe a 10k citizens deposit or business investment would be better. My only concern would be that offering 10k makes it more appealing to just enjoy your twenties and not save which means they might not get the work experience etc.

You want to scrap disability benefits?

NonoLePetitRobot · 02/03/2024 10:16

I'd be in agreement if it was means-tested. I wouldn't be happy with my taxes going to 30 year olds who earn more than I do, or have trust funds or whatever. It's like free prescriptions for categories of people such as children, pregnant women or people over 60 - many of those must have far more money than I do, but I am the one paying a tenner for my meds - a recent infection cost me £30 in antibiotics, while other people on six figure salaries are getting free paracetamol for their DC.

the80sweregreat · 02/03/2024 10:21

Maybe looking into the prescription charges is a good idea, but like the idea of paying a fee to see the GP that is often banded around , who would police it all? The admin costs alone would mount up.

sleepyscientist · 02/03/2024 10:22

Yes I would scrap them to be replaced by things like critical illness cover, early retirement etc.

You can then opt if you want them (to what level), if you want to risk it with nothing (say own a business that will continue without much input) or employers can provide it on a group policy as an employment benefit.

It could be a legal requirement for companies to provide life long cover for illness in kids born under the policy, where that event occurs up to age 18, at which age they purchase their own policy.

With it being a private scheme the money can be invested unlike tax (I.e pension schemes) to provide the return to fund the system plus profit. The current system is just a cost to the government without a long term way of funding it.

I can't think of a way of funding education without it being atleast partly through tax but would be open to options. I also wouldn't oppose private healthcare on a larger scale, but considering the pure size of the NHS dismantling it to replace with a private system is a pipe dream even for the Tory's. I think the closest they will get in the next few decades is making it into a two tier system.

If they introduce 1% deposit mortgages the 10 would be a sufficient deposit for anyone!

ArseInTheCoOpWindow · 02/03/2024 10:26

sleepyscientist · 02/03/2024 10:22

Yes I would scrap them to be replaced by things like critical illness cover, early retirement etc.

You can then opt if you want them (to what level), if you want to risk it with nothing (say own a business that will continue without much input) or employers can provide it on a group policy as an employment benefit.

It could be a legal requirement for companies to provide life long cover for illness in kids born under the policy, where that event occurs up to age 18, at which age they purchase their own policy.

With it being a private scheme the money can be invested unlike tax (I.e pension schemes) to provide the return to fund the system plus profit. The current system is just a cost to the government without a long term way of funding it.

I can't think of a way of funding education without it being atleast partly through tax but would be open to options. I also wouldn't oppose private healthcare on a larger scale, but considering the pure size of the NHS dismantling it to replace with a private system is a pipe dream even for the Tory's. I think the closest they will get in the next few decades is making it into a two tier system.

If they introduce 1% deposit mortgages the 10 would be a sufficient deposit for anyone!

Critical illness cover😂😂

I know 2 people who’ve had to go the ombudsman about what were clearly critical illnesses which had been refused by their insurers.

Both were upheld.

How does someone on a state pension pay for this critical illness cover? Or someone with with schizophrenia who can’t work? Or Long Covid or Chronic Fatigue?

Because these insurance companies have so many exclusions it can be impossible to get cover. And of course you’ve got to be working in the first place. My Dd gets full pip. She’s hoping to go to university. Should her pitiful student loan pay for her ‘cover?’

Its laughable.

K0OLA1D · 02/03/2024 10:38

sleepyscientist · 02/03/2024 10:22

Yes I would scrap them to be replaced by things like critical illness cover, early retirement etc.

You can then opt if you want them (to what level), if you want to risk it with nothing (say own a business that will continue without much input) or employers can provide it on a group policy as an employment benefit.

It could be a legal requirement for companies to provide life long cover for illness in kids born under the policy, where that event occurs up to age 18, at which age they purchase their own policy.

With it being a private scheme the money can be invested unlike tax (I.e pension schemes) to provide the return to fund the system plus profit. The current system is just a cost to the government without a long term way of funding it.

I can't think of a way of funding education without it being atleast partly through tax but would be open to options. I also wouldn't oppose private healthcare on a larger scale, but considering the pure size of the NHS dismantling it to replace with a private system is a pipe dream even for the Tory's. I think the closest they will get in the next few decades is making it into a two tier system.

If they introduce 1% deposit mortgages the 10 would be a sufficient deposit for anyone!

You've not got much experience with disability I take it?

midgetastic · 02/03/2024 10:43

Private schemes always end up costing more - advertising and profit become additional costs

and are prone to profiteering- look at the current issue in the car insurance market when profits are soaring mostly because premiums are rising faster than the insurance company costs

Flensburg · 02/03/2024 10:48

@sleepyscientist how would people disabled since birth who have never had employers get critical illness cover? Or students who become ill during their degrees?

Spinet · 02/03/2024 10:52

Or people who didn't take out critical illness cover due to undefined reasons? Are we living in an arrangement that just leaves them to starve or do we get them to donate their organs/blood/reproductive goods? Do we tax the money they make off those or are we just not doing tax?

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